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Tax Resources

The following links can be a useful resource to assist come tax time, and provide useful information to stay on top of ever changing tax rules, guidelines and deadlines.


Track Your Refund

The IRS should issue your refund check within six to eight weeks of filing a paper return. If you chose to receive your refund through direct deposit, you should receive it within a week. If you use e-file, your refund should be issued between two and three weeks. Use the links below to track it based on your personal information:


Retention Guide

Federal law requires you to maintain copies of your tax returns and supporting documents for three years. This is called the "three-year law" and leads many people to believe they're safe provided they retain their documents for this period of time.

However, if the IRS believes you have significantly underreported your income (by 25 percent or more), or believes there may be indication of fraud, it may go back six years in an audit. To be safe, use the following guidelines.

Personal Documents to Keep for One Year
Bank Statements Paycheck Stubs (reconcile with W-2)
Cancelled ChecksMonthly and quarterly mutual fund and retirement contribution statements
Personal Documents to Keep for Three Years
Credit Card Statements Medical Bills (in case of insurance disputes)
Utility Records Expired Insurance Policies
Personal Documents to Keep for Six Years
Accident Reports and ClaimsMedical Bills (if tax-related)
Property Records/Improvement ReceiptsSales Receipts
Supporting Documents for Tax ReturnsWage Garnishments
Personal Documents to Keep Forever
CPA Audit ReportsIncome Tax Payment Checks
Income Tax Returns Important Correspondence
Investment Trade ConfirmationsRetirement and Person Records

Federal law requires you to maintain copies of your tax returns and supporting documents for three years. This is called the "three-year law" and leads many people to believe they're safe provided they retain their documents for this period of time.

However, if the IRS believes you have significantly under reported your income (by 25 percent or more), or believes there may be indication of fraud, it may go back six years in an audit. To be safe, use the following guidelines.

Business Documents to Keep for One Year
Correspondence with Customers and VendorsDuplicate Deposit Slips
Purchase Orders Receiving Sheets
RequisitionsStenographer's Notebooks
Business Documents to Keep for Three Years
Employee ApplicationsEmployee Personal Records (after termination)
Expired Insurance Policies General Correspondence
Internal Audit Reports Internal Reports
Petty Cash VouchersPhysical Inventory Tags
Savings Bong Registration Records of EmployeesTime Cards for Hourly Employees
Business Documents to Keep for Six Years
Accident Reports, ClaimsAccount Payable Ledgers and Schedules
Accounts Receivable Ledgers and SchedulesBank Statements and Reconciliations
Cancelled ChecksCancelled Stock and Bond Certificates
Employment Tax RecordsExpense Analysis and Expense Distribution Schedules
Expired Contracts, LeasesExpired Option Records
Inventories of Products, Materials, SuppliesInvoices to Customers
Notes Receivable Ledgers, Schedules Payroll Records and Summaries, including payment to pensioners
Plant Cost LedgersPurchasing Department Copies of Purchase Orders
Sales RecordsSubsidiary Ledgers
Time BooksTravel and Entertainment Records
Vouchers for Payments to Vendors, Employees, etc.Voucher Register, Schedules
Business Records to Keep Forever
Audit Reports from CPAs/AccountantsCancelled Checks for Important Payments
Cash Books, Charts of AccountsContacts, Leases Currently in Effect
Corporate Documents (incorporation, charter, by-laws, etc.)Documents substantiating fixed asset additions
DeedsDepreciation Schedules
Financial Statements (Year End)General and Private Ledgers, Year End Trial Balances
Insurance Records, Current Accident Reports, Claims, PoliciesInvestment Trade Confirmations
IRS Revenue Agents' ReportsJournals
Legal Records, Correspondence and Other Important MattersMinute Books of Directors and Stockholders
Mortgages, Bills of SaleProperty Appraisals by Outside Appraisers
Property RecordsRetirement and Pension Records
Tax Returns and WorksheetsTrademark Patent Registrations

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